WiTricity’s tech is pretty cool: the system runs standard AC power through a special coil, which converts it to a higher frequency and voltage and creates a special type of magnetic field.

A second coil, which resonates at the same frequency, can then safely convert the energy in the magnetic field back into electricity. In terms of cars, this has been employed by having a vehicle park over a charging mat.

While that’s great tech (although, what is the efficiency of the process? I’d be surprised if it were 50%), Toyota has publicly come out against EVs with its Chairman Takeshi Uchiyamada saying he doesn’t believe there is a market for the vehicles.

“The reason why Toyota doesn’t introduce any major [all-electric product] is because we do not believe there is a market to accept it,” Mr. Uchiyamada said in an interview following a speech on Monday at the Economic Club of Washington, D.C.

Mr. Uchiyamada said he thinks electric vehicles require “two breakthroughs” on battery technology before they are viable as replacements for gasoline or hybrid-electric vehicles.